Amgen Inc. $AMGN Holdings Lowered by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,181 shares of the medical research company’s stock after selling 391 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Amgen were worth $10,661,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairvoy Private Wealth LLC lifted its position in shares of Amgen by 1.1% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after acquiring an additional 35 shares in the last quarter. Nicholson Wealth Management Group LLC boosted its position in shares of Amgen by 0.6% in the second quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock worth $1,652,000 after buying an additional 35 shares during the period. Crumly & Associates Inc. grew its holdings in shares of Amgen by 3.2% during the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after buying an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. raised its position in Amgen by 5.2% during the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock valued at $204,000 after buying an additional 36 shares during the period. Finally, Lion Street Advisors LLC raised its position in Amgen by 1.3% during the second quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company’s stock valued at $774,000 after buying an additional 36 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.76% of the company’s stock.

Amgen Stock Down 1.7%

Amgen stock opened at $295.98 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The firm’s fifty day simple moving average is $287.97 and its 200-day simple moving average is $287.21. The company has a market capitalization of $159.34 billion, a P/E ratio of 24.20, a P/E/G ratio of 2.66 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen’s dividend payout ratio is currently 77.84%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMGN. Piper Sandler lifted their target price on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research note on Monday, August 25th. Raymond James Financial started coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. Citigroup upped their price objective on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Bank of America boosted their price target on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Finally, Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $300.94.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.